VelocityShares 3x Long Crude Oil ETNs linked to the S&P GSCI Crude Oil Index ER New

Frequently Asked Questions About UWT

What does UWT invest in?

The investment seeks to replicate, net of expenses, three times of the S&P GSCIÂ Crude Oil Index ER. The index tracks a hypothetical position in the nearest-to-expiration NYMEX light sweet crude oil futures contract, which is rolled each month into the futures contract expiring in the next month. The value of the index fluctuates with changes in the price of the relevant NYMEX light sweet crude oil futures contracts.

What is the expense ratio of UWT?

VelocityShares 3x Long Crude Oil ETNs linked to the S&P GSCI Crude Oil Index ER New (UWT) charges an expense ratio of 1.50%. This is the annual fee deducted from fund assets to cover management and operations.

Is UWT a good long-term hold?

UWT is a leveraged fund designed to deliver a daily multiple of its underlying index. Daily reset compounding means returns over multi-day periods can diverge significantly from the headline multiple — typically negative drift in choppy markets. These funds are designed for short-term tactical use, not buy-and-hold. Review the fund's prospectus before holding more than a few days.

How does UWT's daily reset work?

UWT rebalances exposure each trading day to maintain its target leverage ratio against the next day's move. The daily reset means returns compound at the daily level — so a +1%, −1% sequence on the underlying doesn't return the underlying to flat after the leverage multiplier. Over time this path-dependence erodes returns in volatile markets and amplifies them in trending markets.

How big is UWT?

VelocityShares 3x Long Crude Oil ETNs linked to the S&P GSCI Crude Oil Index ER New (UWT) manages $480.4M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure — funds below ~$50M are at higher risk of liquidation.

Is UWT actively managed or an index fund?

UWT's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy.